M-SOLUTIONS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
M-SOLUTIONS
Largest movements
- Tangible fixed assets -€20,848
down €20,848 (-29.3%), from €71,197 to €50,349
of which Furniture and vehicles: -€20,848
- Cash +€14,374
up €14,374 (+12.0%), from €120,188 to €134,562
mainly Depreciation (+€20,848) and Receivables within one year (+€10,781)
- Receivables within one year -€10,781
down €10,781 (-25.3%), from €42,581 to €31,800
of which Trade receivables: -€6,494
- Profit (loss) carried forward -€12,215
down €12,215 (-14.7%), from €83,273 to €71,058
- Tax, wage and social debts -€3,284
down €3,284 (-68.4%), from €4,802 to €1,518
- Trade debts -€3,012
down €3,012 (-71.7%), from €4,200 to €1,188
- Gross operating margin -€15,982
down €15,982 (-68.6%), from €23,295 to €7,312
- Taxes -€1,486
down €1,486 (-85.4%), from €1,741 to €255
- Financial income +€1,127
up €1,127 (+88.5%), from €1,274 to €2,401
- Depreciation +€511
up €511 (+2.5%), from €20,337 to €20,848
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €237,234 | €218,725 | -€18,510 | -7.8% |
| Fixed assets | 21/28 | €71,197 | €50,349 | -€20,848 | -29.3% |
| Tangible fixed assets | 22/27 | €71,197 | €50,349 | -€20,848 | -29.3% |
| Furniture and vehicles | 24 | €62,124 | €41,277 | -€20,848 | -33.6% |
| Other tangible fixed assets | 26 | €9,072 | €9,072 | = | 0.0% |
| Current assets | 29/58 | €166,038 | €168,376 | +€2,338 | +1.4% |
| Amounts receivable within one year | 40/41 | €42,581 | €31,800 | -€10,781 | -25.3% |
| Trade receivables | 40 | €6,494 | - | -€6,494 | |
| Other amounts receivable | 41 | €36,087 | €31,800 | -€4,287 | -11.9% |
| Cash at bank and in hand | 54/58 | €120,188 | €134,562 | +€14,374 | +12.0% |
| Deferred charges and accrued income | 490/1 | €3,269 | €2,013 | -€1,255 | -38.4% |
| Total equity and liabilities | 10/49 | €237,234 | €218,725 | -€18,510 | -7.8% |
| Equity | 10/15 | €228,233 | €216,018 | -€12,215 | -5.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | - | €12,400 | +€12,400 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Uncalled capital | 101 | - | €6,200 | +€6,200 | |
| Outside capital | 11 | €12,400 | - | -€12,400 | |
| Other | 1109/19 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €132,560 | €132,560 | = | 0.0% |
| Non-distributable reserves | 130/1 | €32,560 | €32,560 | = | 0.0% |
| Legal reserve | 130 | €32,560 | €32,560 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,273 | €71,058 | -€12,215 | -14.7% |
| Amounts payable | 17/49 | €9,002 | €2,706 | -€6,295 | -69.9% |
| Amounts payable within one year | 42/48 | €9,002 | €2,706 | -€6,295 | -69.9% |
| Trade debts | 44 | €4,200 | €1,188 | -€3,012 | -71.7% |
| Suppliers | 440/4 | €4,200 | €1,188 | -€3,012 | -71.7% |
| Taxes, remuneration and social security | 45 | €4,802 | €1,518 | -€3,284 | -68.4% |
| Taxes | 450/3 | €4,802 | €1,518 | -€3,284 | -68.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,337 | €20,848 | +€511 | +2.5% |
| Other operating charges | 640/8 | €457 | €471 | +€15 | +3.2% |
| Gross operating margin | 9900 | €23,295 | €7,312 | -€15,982 | -68.6% |
| Operating profit (loss) | 9901 | €2,502 | -€14,007 | -€16,508 | |
| Financial income | 75/76B | €1,274 | €2,401 | +€1,127 | +88.5% |
| Recurring financial income | 75 | €1,274 | €2,401 | +€1,127 | +88.5% |
| Financial charges | 65/66B | €251 | €354 | +€103 | +41.2% |
| Recurring financial charges | 65 | €251 | €354 | +€103 | +41.2% |
| Profit (loss) for the period before taxes | 9903 | €3,524 | -€11,960 | -€15,484 | |
| Income taxes | 67/77 | €1,741 | €255 | -€1,486 | -85.4% |
| Profit (loss) for the period | 9904 | €1,784 | -€12,215 | -€13,998 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,784 | -€12,215 | -€13,998 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.